Banking Act (Cap. 371), article 35C

35C. In exercising its supervisory pow ers in accordance with this Act and any regulations made and, or Banking Rules and, or Cond uct of Business Rules issued thereunder, with the CRR and with any binding legal instruments issued under the CRD , the competent authority shall, in its decisions, state the grounds on which s uch decisions have been based. Application of Act to the Central Bank.